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Qantas Purchase Of Air New Zealand A 'Done Deal'

24th July 2002

Qantas Purchase Of Air New Zealand A 'Done Deal' - David Carter

The Qantas purchase of a strategic shareholding in Air New Zealand is a done deal according to industry sources, says National's Finance spokesman David Carter.

"It is impossible to believe Dr Cullen when he claims he is unaware of the deal.

"It is unbelievable that Dr Cullen does not know what is going on with the Government as an 82% shareholder in the airline.

"The board has agreed to the Qantas purchase by a slim majority, after what I am told was acrimonious debate.

"Senior Air New Zealand management has advised strongly against the Qantas deal, but have been threatened with dismissal if they speak out.

"Such a deal with Qantas will see the national flag carrier become nothing more than a marginalised regional airline, and puts New Zealand's $5 billion per annum tourism industry at risk," David Carter said.

Ends


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